Explore weekly insights on gold, NASDAQ, forex, and crypto. Key levels, trends, and what to watch for the week of August 11.

The US Dollar (USD) has resumed its weekly downside, as investors have started to get ready for a more political and dovish Fed, all following news that Stephen Miran will replace Adriana Kugler as one of the FOMC Governors.

The US Dollar surrendered last week’s hard-won advances, with the US Dollar Index (DXY) sliding back toward the 98.00 neighbourhood after failing to hold ground above the psychological 100.00 mark in the past few days.

The Euro (EUR) successfully recovered from its previous week’s losses against the US Dollar (USD). Indeed, EUR/USD traded with an upside bias throughout the week, briefly flirting with the key resistance in the 1.1700 region just to ease some ground as the week drew to an end.

The Pound Sterling (GBP) gradually recovered ground against the US Dollar (USD), lifting GBP/USD from three-month lows to ten-day highs near 1.3500.  

After fluctuating in a relatively tight range in the first half of the week, Gold (XAU/USD) gained traction and climbed to a two-week high above $3,400 before correcting lower toward the end of the week.